Central Puerto (NYSE:CEPU) Shares Down 5.7% on Analyst Downgrade

Central Puerto S.A. Sponsored ADR (NYSE:CEPU – Get Free Report)’s stock price traded down 5.7% during mid-day trading on Friday after Bank of America lowered their price target on the stock from $29.00 to $28.00. Bank of America currently has a buy rating on the stock. Central Puerto traded as low as $13.75 and last traded at $13.6490. 238,828 shares were traded during mid-day trading, a decline of 23% from the average session volume of 310,205 shares. The stock had previously closed at $14.48.

Several other research analysts have also commented on the company. Wall Street Zen lowered Central Puerto from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Central Puerto in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.75.

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Institutional Investors Weigh In On Central Puerto

Several hedge funds have recently made changes to their positions in CEPU. Blue Trust Inc. bought a new stake in shares of Central Puerto in the 1st quarter valued at approximately $41,000. Tidal Investments LLC acquired a new stake in Central Puerto in the 2nd quarter valued at $159,000. Arrowstreet Capital Limited Partnership bought a new stake in Central Puerto in the first quarter valued at $271,000. Banco BTG Pactual S.A. bought a new stake in Central Puerto in the fourth quarter valued at $476,000. Finally, Walleye Capital LLC acquired a new position in Central Puerto during the first quarter worth $1,349,000. Institutional investors and hedge funds own 2.97% of the company’s stock.

Central Puerto Stock Performance

The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $14.11 and a 200-day simple moving average of $14.78. The company has a market capitalization of $2.07 billion, a P/E ratio of 4.55 and a beta of 0.81.

Central Puerto Company Profile

(Get Free Report)

Central Puerto SA is an Argentina-based electric power generation company whose American depositary shares trade on the New York Stock Exchange under the symbol CEPU. The company develops, owns, and operates power-generation facilities that supply electricity to Argentina’s interconnected power system.

Its generation portfolio includes thermal power plants, which primarily use natural gas and other fuels, as well as hydroelectric and renewable-energy assets. Central Puerto also develops and invests in new generation projects, including wind and solar facilities, to support the diversification of Argentina’s electricity supply.

Central Puerto was established in 1989 during the privatization and restructuring of Argentina’s electricity sector.

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